What to Expect During a Life Insurance Health Exam

life insurance health exam

Life insurance is a great way to guarantee your family will be taken care of in the event that you die before you have accumulated enough assets to weather expenses like home ownership and college tuition.

After you complete the application, the insurer sends a paramedical professional or nurse direct to your home or place of work in order to administer a 20 to 30 minute medical examination. Combined with statistical longevity data and the information you entered on the application, the insurer will then determine whether or not to grant coverage and set the annual premium rate.

What Do You Need to Be Aware Of?

The medical exam allows the insurer to verify the information you entered on your life insurance application in order to make sure there are no undisclosed conditions or diseases present. In other words, it is a quality check.

While some term life insurance policies don’t require a medical exam, you may actually be better off if you go with a plan that is medically underwritten. The reason is simple: insurers that don’t require an exam calculate risk evenly among everyone on the plan. If you’re healthy, that means you could pay more.

One potential downside for carriers is the medical exam could reveal an underlying health problem that you were previously unaware of. This could not only cause you to be declined coverage, but also prevent you from obtaining life insurance from another insurer.

It is always a good idea to see your physician for a complete checkup before applying for life insurance.

What Will Happen During the Medical Exam?

The medical professional who arrives to administer the exam will ask you a series of questions pertaining to your health and family history. Some typical questions:

• What is your family’s medical history?
• What is the name and address of your primary physician?
• Are you taking any prescription medications?
• Do you smoke, drink, or use recreational drugs?
• Have you been hospitalized or had any surgical procedures?
• Do you suffer from depression or any other mental health procedure?

After the questionnaire, the medical health professional will measure your height and weight and take your blood pressure. They may also administer simple tests like an electrocardiogram (EKG).

Finally, they will collect samples of your blood and/or urine to check the markers for diseases like diabetes and HIV and measure things like total serum cholesterol. Generally, you will be informed about diseases and conditions the insurer is testing for beforehand.

It can take up to several months to process the results of the medical exam. If the exam reveals undisclosed conditions, you could either be declined coverage or asked to submit to further testing.

Ready to Invest in Quality Life Insurance?

Grand Mutual Insurance is a full-service real estate insurance company that specializes in both business insurance and personal insurance solutions. Their knowledgeable team of agents strive to make the process of finding the right plan as effortless as possible, providing customized life insurance plans at a price that is both comprehensive and affordable.